STANISLAS ARCHAMBAULT’S NEW ROLE AT INTERPARFUMS
Beauty Fashion interviewedabout his promotion to Chief Executive Officer of InterParfums Luxury Brands and his vision for the company moving forward.
Beauty Fashion: In your new role as CEO of InterParfums Luxury Brands, are there any initiatives you would want to undertake?
: My role is to serve as a constructive and positive force in the growth and success of the company.
There is only so much room for growth in the industry, so our growth will ultimately come at the expense of another’s. We need to offer the best quality products and be very smart in supporting our brands in the most efficient way.
BF: What are the challenges in managing a diversified portfolio of fragrances and making sure that they all get the support they need?
: It is a constant challenge. Limited distribution brands require lots of nurturing and attention. We need to make sure those prestigious brands get the support needed, but at the same time not distract the development of our pillar brands.
BF: Are you looking into other channels of distribution for your fragrances, and if so, where?
: In our department-store-dominated market, we are also seeing major development of chains, such as Sephora and ULTA. Those retailers are changing the way customers behave and purchase. Their customers are beauty obsessed. They like to try everything and read reviews online before buying.
We also see huge potential in our retailers’ online sites and need to constantly pay attention to the way our brands are merchandised online and how to better engage customers with smart sampling, products/brand information, video and animated content.
BF: What do you see in the trends for prestige fragrances today?
: It is very interesting to see that in this challenging economic environment, premium prices (over $100) has been the faster-growing category for two years in a row. This shows us that customers are willing to spend more, but they want quality.
The decline of new launches and the strong performance of established brands are also strong indicators of a change in our industry.
Customers are focusing on top designer brands, with strong awareness. They are less volatile, less interested in trying new brands and will prioritize their purchase on brands that resonate. I expect this trend to continue in the next few years, with fewer launches and top brands continuing to gain market share.
BF: Do you see niche brands gaining in importance among consumers as the proliferation of fragrances and flankers floods the market?
: Although the segment remains small, niche brands should continue gaining importance. High-end specialty stores need to maintain a point of difference from department stores. They will continue to invest in this category and give more visibility to niche brands at the expense of widely distributed brands.
BF: What is your vision for future growth at InterParfums Luxury Brands?
: After successfully launching Jimmy Choo in the top 20, we believe that the new Jimmy Choo Flash launching this spring has the potential to join the elite and build a powerhouse. Our new Montblanc Legend launch continues to surprise us every day. Ranking #9 during the holidays, it finished 2012 as the number-one Men’s Fragrance Launch. This brand could be on track to becoming a true top-five classic. In addition, InterParfums’ substantial cash resources will lead us to expand our growth strategy and pursue the acquisition of more brands. BF